Happy Lunar New Year!

[rothschild]

Are you up on capitalist theory, Tiki?

Short answer:  Yes . . . I'd like to think I am.

However, "capitalist theory" has gone through so many bastardizations and woke metamorphoses, I'd like to know or hear your view(s).

Yes, I used "woke" deliberately.

Social theories only hold together in controlled environments, and if an environment is controlled then freedom is not in the equation, thus capitalism by default is going to be crony capitalism/inverted socialism.

The context in which capitalist theory arose was monarchy/mercantilism, which was poorly suited to making sound economic decisions due to nepotism and cronyism. The major premise was that local people had the most accurate data for making sound decisions re local economies, thus capitalism was intended to decentralize economic authority. The problem with this is that it requires advancement on the basis of meritocracy, which will only happen in societies comprised of people who appreciate the necessity for virtue, which is the only thing that can preclude corruption. Where there is corruption, there can be no meritocracy. The irony is that if virtue is established in a society, there will be no need for theory or ideology. People will aspire to excellence in mind, body and soul, rather than wealth and power.

The best example of flagrant incongruity is the notion that capitalism is compatible with centralized banking. Nothing is more detrimental to economic prosperity than monopoly interests. This is how and why we are experiencing rapid decline. No one who wields power is concerned with the public interest. They are driven by greed, lust and gluttony, and such men are devoid of wisdom. "Democracy" is merely bread and circuses. Socio-economic sleight of hand to give the impression that we are all in this together. The masses have been rendered dull and disinterested, so the lie is vastly preferable to a truth that is horrifying.

How do you see it?